Metalcut Carbide Saws

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AME Completes Asset Purchase of Metalcut

October 1, 2010

FOR IMMEDIATE RELEASE:

AME Completes Asset Purchase of Metalcut

Advanced Machine & Engineering (AME), has announced the asset purchase of the Metalcut Carbide Saw Division of Centro-Metalcut, a leader in the design and manufacture of heavy-duty carbide sawing systems for the metal cutting industries.

AME is also a leading global manufacturer of carbide sawing systems, under its popular AMSAW® brand name. AMSAW systems are found in forge, metalcasting, service center and primary producer operations, anywhere large or continuous sawing is performed. The acquisition of the Metalcut carbide saw line represents a substantial expansion of the company’s capabilities in the world market.

This purchase will transfer the complete sawing machine technologies, engineering data, inventory, spare parts and service operations for all Metalcut carbide saws to AME. Steve Swanson, the business unit manager for the carbide saw machine division of AME, will assume oversight responsibility for the Metalcut product line, allowing a seamless transition for all existing customers and immediate access to the Metalcut carbide saw line for all new AME accounts. AME has worldwide sales and service locations already in place to accommodate all customer requirements, according to Greg Champion, vice president of sales & marketing for the company.

Centro-Metalcut will continue to manufacture and market all other product lines in its offering, including hot and cold abrasive saws, conditioning grinders and materials handling equipment.

Dietmar Goellner, AME president and CEO, and Danny Pearse, CEO of Centro-Metalcut, agreed to the purchase terms on September 24, 2010.